Diana Containerships reports financial results for Q3 and nine months ended September 2016

Accountancy, Container shipping, Markets, Shipmanagement, Statistics, Stock Markets — By on November 17, 2016 at 1:51 PM

WP_20150505_078DIANA CONTAINERSHIPS INC. REPORTS FINANCIAL RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2016  

ATHENS, GREECE, November 17, 2016 – Diana Containerships Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today reported a net loss of $126.8 million for the third quarter of 2016, compared to a net loss of $9.1 million for the respective period of 2015. The loss for the third quarter of 2016 was mainly the result of $118.9 million of impairment charges for seven of the Company’s vessels, without which the result for the quarter would have been a net loss of $7.9 million.

Time charter revenues, net of prepaid charter revenue amortization, were $8.0 million for the third quarter of 2016, compared to $16.1 million for the same period of 2015, mainly due to reduced employment opportunities and time charter rates.

Net loss for the nine months ended September 30, 2016 amounted to $140.6 million, compared to a net loss of $8.7 million for the same period of 2015. The loss for the nine month period ended September 30, 2016, was mainly the result of $118.9 million of impairment charges for seven of the Company’s vessels, without which the result for the period would have been a net loss of $21.7 million. Time charter revenues, net of prepaid charter revenue amortization, for the nine months ended September 30, 2016, amounted to $27.7 million, compared to $47.3 million for the same period of 2015.

Viewers can log herebelow and see the full report: DIANA CONTSHIPS 17112016

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